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my next guest says the fiscal cliff is simply y2k fear. joining me now is a chief investment officer. we have had other people talk about it similar to y2k. why do you feel that it is not something to worry about right now, from an investor standpoint. >> first, i think the deal is already settled in was settled a while back. everyone who has negotiated knows that is what goes on. from an investor point of view, i think you will find that the tax rates don't go crazy like everyone thinks. the dividend taxes, for example, you will have 23.5%. all of these captains of industries, what happens when it turned and looked around and say it really was not such a big thing. what will they do? will they go away from dividends and not have anything that has interest. liz: even with a potentially higher tax rate, you are still getting more than 1.6% or 1.7%. >> exactly. look at how many times in history we have had higher dividend taxes. the rate will hit around 20%. it could go as high as 36 or 39%. with that said, 200 companies, roughly, are accele
my next guest says the fiscal cliff is simply y2k fear. joining me now is a chief investment officer. we have had other people talk about it similar to y2k. why do you feel that it is not something to worry about right now, from an investor standpoint. >> first, i think the deal is already settled in was settled a while back. everyone who has negotiated knows that is what goes on. from an investor point of view, i think you will find that the tax rates don't go crazy like everyone thinks....
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>> two words, fiscal cliff. we are absolutely frozen because we don't know what is going to happen come an end of the year and i'm afraid. we started to hear chatter about the government might just think this embolden them. the economy can handle as going over the cliff which is absolutely crazy but that is what we are starting to talk about down here. here we go again. that is why nothing is moving. stuart: merry christmas in chicago, we do appreciate it. see you again soon. major blow to unions in one of the biggest union state in the country. protests at the state capitol in michigan after the state legislator passed right to work laws. the governor says he is going to sign it putting michigan on track to become a right to work state. the unions absolutely furious. listen to this. [chanting] stuart: when you heard it before and heard it again. vincent the new geo of the center for public policy is in michigan. let me get things real straight here. if you have a right to work state, membership in the unionn be
>> two words, fiscal cliff. we are absolutely frozen because we don't know what is going to happen come an end of the year and i'm afraid. we started to hear chatter about the government might just think this embolden them. the economy can handle as going over the cliff which is absolutely crazy but that is what we are starting to talk about down here. here we go again. that is why nothing is moving. stuart: merry christmas in chicago, we do appreciate it. see you again soon. major blow...
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it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares bylackrock. call 1-800-ishes for a prosctus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforter
it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their...
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peter, to you first. >> not the fiscal cliff. not today. just a day at a meeting speaker john boehner at the white house, president obama extended a little olive branch in avoiding the fiscal cliff. >> i have said i will work with republicans on a plan for economic growth, job creation and reducing our deficits. and had some common western democrats and republicans, i understand people have a lot of different views, i'm willing to compromise a little bit. >> the white house would not disclose any details of the meeting with the president and the speaker yesterday. both sides confirming communications are open. speaker john boehner saying discussions are taking place. liz: maybe the fact they're keeping quiet may mean something is really going to happen. keep dreaming. >> does politics have to watch out what is happening in silicon valley. apple and google compete on so many different rounds. but they're actually coming together to co-compete on a bid for the patents that kodak holds. 1100 patents, half a billion dollars. they realize instea
peter, to you first. >> not the fiscal cliff. not today. just a day at a meeting speaker john boehner at the white house, president obama extended a little olive branch in avoiding the fiscal cliff. >> i have said i will work with republicans on a plan for economic growth, job creation and reducing our deficits. and had some common western democrats and republicans, i understand people have a lot of different views, i'm willing to compromise a little bit. >> the white house...
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the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the fiscal cliff starts getting resolved, you will see some buying going on. cheryl: bobby, i want to go back to you about europe. we have not had a lot of problees. seems like the greeks are kind to getting things. >> the last few days, europe markets have been pretty strong. as you said, a sleeping giant. cheryl: i do not want to see anything change. it has been nice. gentlemen, thank you. i appreciate it. great floor show today. uncertainty seems to be the norm in washington these days. last year you have the debt ceiling convey. congress had trouble pu
the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the...
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i want to first it your idea of what you think of the fiscal cliff. you have tough find this to be rich father. >> absolutely. i always suggest, but the best tag riders in the world work for politicians. this white hse is giving me plenty of fodder forcurtains. and it is funny to think about these events, but a very traumatic and seious. they avoid the fiscal clff. we are talking about over $607 billion worth of money taken out of the economyext year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is verydifficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that resolution in washington d.c. >> but the problem here is that frankly there is a fine and out capital that can be used up their divided either in the private sector which reates businesses and jobs and federal revenue or given to the government which is just a bureaucracy and cr
i want to first it your idea of what you think of the fiscal cliff. you have tough find this to be rich father. >> absolutely. i always suggest, but the best tag riders in the world work for politicians. this white hse is giving me plenty of fodder forcurtains. and it is funny to think about these events, but a very traumatic and seious. they avoid the fiscal clff. we are talking about over $607 billion worth of money taken out of the economyext year. lou: i just want to put up the next...
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they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that resolution in washington d.c. >> but the problem here is that frankly there is a fine and out of capital that can be used up their divided either in the private sector which creates businesses and jobs and federal revenue or given to the government which is just a bureaucracy and creates nothing but bureaucratic management. if you look at the last gop congress and the expenditures, about two and half trillion dollars and now the president's proposals are about 4 trillion in spending with deficits and increased. it is the economy. lou: it truly is. and i want to also if
they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that resolution in washington d.c. >> but the...
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i wanted just go back to the fiscal cliff just for a second. that is, the republican messaging, if you will. they have an opportunity here, it seems to me, as well as a problem, but i don't hear creative, imaginative, if you will, rhetoric or language or positioning or mesaging. >> we have been for about three years now. so i think there's no reason for it to start now. what house republicans have to understand is they are the republican party for the next four years and have to have messaging and baically tell the american public what they're doing and why they're doing it. they can't be for tax cuts, for spending cuts. they have to articulate how it fits in the big picture. there are some skilled people that need to step forward. lou: would i be too cynial to say that perhaps the president has an additional advantage in this little carrousel of nonsense around the fiscal clef in that it also deects and distracts from that half trillion dollars in new taxes that will be hitting the middle class in this country as a result of obamacare beginnin
i wanted just go back to the fiscal cliff just for a second. that is, the republican messaging, if you will. they have an opportunity here, it seems to me, as well as a problem, but i don't hear creative, imaginative, if you will, rhetoric or language or positioning or mesaging. >> we have been for about three years now. so i think there's no reason for it to start now. what house republicans have to understand is they are the republican party for the next four years and have to have...
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they see this fiscal cliff at the end of the year. even if it is a bad deal, we will have much stronger growth at the back half. stuart: do they think president obama gets the credit for this? >> they were not really keen on saying that at that very moment. certainly, if we fall off the cliff, it will be the republicans fault. >> i think it will be a bad deal. i do not see serious spending
they see this fiscal cliff at the end of the year. even if it is a bad deal, we will have much stronger growth at the back half. stuart: do they think president obama gets the credit for this? >> they were not really keen on saying that at that very moment. certainly, if we fall off the cliff, it will be the republicans fault. >> i think it will be a bad deal. i do not see serious spending
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the 2 is part of t fiscal cliff, sequestration due to the fiscal cliff. melissa: at the same te thesdoctors at end of the day end up paying higher income tax after what they're maki at work is cut. when they get home and the government comes back and takes a bigger bite. >>melissa, your viewers many already faced wi this 50,000 or abo tax that is going to occur if thi isn'solved. i want to point out physicians this is gross fire, manyy physicians have a lot of expenses hidden in that. they're not making $250,000. the cost of machinery. cost of tests. cost of keeping offices open. every smalbusinessas the problem. doctors will get in the positiono say wait a minute, i can't afford to ke care of tse patients. maybe they go t the hospital. melissa: on p all that the doctors are affected the health care act's restrictions. >> theyill not be able to offer certain technological solutions because insurance won't pay f it. i want to order thattest but insurance won't pay. i'm still liable even if i can't order it. obamacaris squeezing us already before this issue
the 2 is part of t fiscal cliff, sequestration due to the fiscal cliff. melissa: at the same te thesdoctors at end of the day end up paying higher income tax after what they're maki at work is cut. when they get home and the government comes back and takes a bigger bite. >>melissa, your viewers many already faced wi this 50,000 or abo tax that is going to occur if thi isn'solved. i want to point out physicians this is gross fire, manyy physicians have a lot of expenses hidden in that....
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Dec 10, 2012
12/12
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that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> well, and if it continues to print money it will be a bigger hell. if we avoid the fiscal cliff we end up throwing the dollar over the currency cliff because we send a message to the world america will never pay its bills. we'll keep borrowing money until the creditors cut us off. that is when interest rates skyrocket. the pressure on the fed and if the fed caves in to buy up all the bonds nobody wants we destroy the dollar. that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term th
that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> well, and if it continues to print money...
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talk about indecisiveness, does this all fiscal cliff worries? >> it is a double-edged sword as far as the market. you can make a pretty good case for the fact that the market has come in here with all the uncertainty around the fiscal clef. if i were a betting man which i am not, i don't like to take risks but if i were a betting man i would bet the market is trending lower and under a lot of pressure because of the uncertainty generated around the fiscal cliff and the other side of that equation is folks will tell you and i have set a hundred times the markets don't lie and markets see something the financial press and the rest of us don't see because they hang in here. i don't understand it. we should be trading below, just like gold is puzzling. liz: interesting point. is puzzling, when you look at the intraday chart whether it is the dow or the and the crossing the flat line over and over why are the moves so shallow to the upside or downside. a couple points up and down and no real conviction on either side. does that happen next week? >> w
talk about indecisiveness, does this all fiscal cliff worries? >> it is a double-edged sword as far as the market. you can make a pretty good case for the fact that the market has come in here with all the uncertainty around the fiscal clef. if i were a betting man which i am not, i don't like to take risks but if i were a betting man i would bet the market is trending lower and under a lot of pressure because of the uncertainty generated around the fiscal cliff and the other side of that...
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avoids the fiscal cliff. "countdown to the closing bell" is next. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorrating a business you'd like to start. or questions about protecting your family wita will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, legal plan attorney is available with every pernalized document o answer any questions. get started at legalzoom.com today. and now you're protected.
avoids the fiscal cliff. "countdown to the closing bell" is next. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorrating a business you'd like to start. or questions about protecting your family wita will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the...
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concerned about the fiscal cliff. the new ford fusion model is being recalled for the second time in two weeks. were calling within 19,000 of its 2013 sudan's in the u.s. to replace faulty headlamps. the fusion and escape were recalled last year for a potential defect that could cause engine fire. credit card debt continues to be a top worry. many people are just simply using them less. many people plan to charge less than $500 this holiday season. that is the latest from the fox business network. giving you the power to prosper. ♪ can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially the who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical con
concerned about the fiscal cliff. the new ford fusion model is being recalled for the second time in two weeks. were calling within 19,000 of its 2013 sudan's in the u.s. to replace faulty headlamps. the fusion and escape were recalled last year for a potential defect that could cause engine fire. credit card debt continues to be a top worry. many people are just simply using them less. many people plan to charge less than $500 this holiday season. that is the latest from the fox business...
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every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the two-day chart. with the fiscal cliff fast approaching, naturally it's about time lawmakers took a long recess. >> they're gone today, but will be back tuesday. it meets with small businesses in their district, they will highlight what they say i see ae small business tax hike president obama is pushing. the president is skipping town also for a quick stop in northern virginia. there he
every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september...
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negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that
negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what...
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this is all about the fiscal cliff. we keep saying over and over it is boring but these guys have to get some resolution. tracy: what is the consensus of people you are speaking to on the telephone on wall street? did in come to some bipartisan agreement? >> no they don't and they're getting angry. [talking over each other] tracy: the rates go up essentially? nicole: special dividends tell you companies and a lot of them have been down in washington recently thinking this is not going to happen. they are declaring dividends ahead of a little bit. the general consensus, market's going to stay where it they are, this is a headline driven market. the flavor of the day is going to be where we are and that is why you will not see reinvestment. this is a trader's market. nicole: a lot of stories stocks will looking at with earnings and such but the big picture -- >> you can still make monee somewhere. nicole: if you pick the stocks. [talking over each other] tracy: see you in 15 minutes. ashley: crude oil futures at $88.50 a
this is all about the fiscal cliff. we keep saying over and over it is boring but these guys have to get some resolution. tracy: what is the consensus of people you are speaking to on the telephone on wall street? did in come to some bipartisan agreement? >> no they don't and they're getting angry. [talking over each other] tracy: the rates go up essentially? nicole: special dividends tell you companies and a lot of them have been down in washington recently thinking this is not going to...
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>> it all depends on what happens with the fiscal cliff. right now, there's boehner yelled out by his own party, the conservative part of the wing, and also the left. he's in a really, really tight spot and an ultimate binary trade. if something good happens, we'll rocket higher. if something bad happens, expect the worst right now. that's the thing right now. it's a yes or no trade. liz: congressional know it all at fox news calls it rrpublican on republican violence. hard to get a deal in the own party, special interests, the markets, whatever happens, we want to make money. where did you see the flows today? >> -- >> just a sec. we picked through the numbers, the stock is falling, of course, i'm sure making the shorts happy. clearly, looking at the stock, again, it had been up for the past two and a half weeks, but it's gotten hammered since the six month high reached six months ago. larry, quickly, though, where were the flows today that you saw? >> not many at all. i think people are talking about putting money into financials and mate
>> it all depends on what happens with the fiscal cliff. right now, there's boehner yelled out by his own party, the conservative part of the wing, and also the left. he's in a really, really tight spot and an ultimate binary trade. if something good happens, we'll rocket higher. if something bad happens, expect the worst right now. that's the thing right now. it's a yes or no trade. liz: congressional know it all at fox news calls it rrpublican on republican violence. hard to get a deal...
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>>> and could the fiscal spliff save us from the fiscal cliff. why the big money in marijuana could be the perfect solution to all of our problems. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >> as always, we have a lot of competition out there. but with our focus on making the very best products, many times we find ourselves in a league by ourselves. >>> as tim cook singles out his competition by name, by tech horse should be you back if you had to pick just one of these stocks -- google, microsoft or apple? joining us now, the analyst an evercore partners and an analyst at barclays capital. ron, to you first. which one is it.
>>> and could the fiscal spliff save us from the fiscal cliff. why the big money in marijuana could be the perfect solution to all of our problems. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the...
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we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether...
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12/12
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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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what we asked about the fiscal cliff. the first thing we wanted to establish is do people know about this thing? we looked at some of the other times we've asked this. what we'll see right here is other situations where they knew it, where other main stories that were out there. for example, the trayvon martin shooting. 91% of americans knew about that. occupy wall street, 80%. going forward what you have here, facebook, 72%. all the way down to 70%. you can look at this a couple ways. here's the greek financial crisis. 30% of the public not really paying attention to. inside that 70% number, 36% have know a lot about it. we'll compare with other stuff we asked last time about when they had a debt -- big deficit debate. we find first, 17% back in november thought congress and the administration could come to a deal. now 44% say it is unlikely. current results -- 48%. put those two blue columns together. 48% to 44% is that a solution is likely. let's come over on this side and look at who believes that it is likely. when y
what we asked about the fiscal cliff. the first thing we wanted to establish is do people know about this thing? we looked at some of the other times we've asked this. what we'll see right here is other situations where they knew it, where other main stories that were out there. for example, the trayvon martin shooting. 91% of americans knew about that. occupy wall street, 80%. going forward what you have here, facebook, 72%. all the way down to 70%. you can look at this a couple ways. here's...
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stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the tax rate issue. the president insists more revenue comes from higher rates, not deduction limits. -pit's a standoff and it contins less than four weeks to go until the deadline. be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the comp
stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the...
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what impact is the fiscal cliff having? >> it's impacting the level of activity in the final quarter of 2012. we are seeing acceleration. if we look at volume and values of deals in october and november, we popped up 10%, 15% above the average after the previous nine months. so i think if you were contemplating the deal between september of this year and march of next, the likelihood is you'll try to pull it forward to try to take advantage of the capital gains tax certainlily. >> so if you're rushing through this year, there will be a lull in the first quarter. >> yeah. i agree. i think we will potentially see a lull in the first quarter. but on the assumption that we do get past the fiscal cliff with successful resolution, which i think we're all optimistic we will, i think fundamentals are strong. we have corporate balance sheets still strong. we have private equity with a lot of available cash. and general improvement in confidence. and i think with the certainty of -- the uncertainty of the presidential election behind
what impact is the fiscal cliff having? >> it's impacting the level of activity in the final quarter of 2012. we are seeing acceleration. if we look at volume and values of deals in october and november, we popped up 10%, 15% above the average after the previous nine months. so i think if you were contemplating the deal between september of this year and march of next, the likelihood is you'll try to pull it forward to try to take advantage of the capital gains tax certainlily. >>...
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geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a one month high but the trouble continues for apple posting its worst day in nearly four years. the stock falling back into bear market territory weighing on the nasdaq throughout the entire session in terms of price action, terrible. pretty heavy volumes closing two pennies off the low of the session deep. >> it was terrible. i'm trying to be measured here because i understand how -- >> you don't want to insult apple. >> that's not what we're attempt to go do. we're trying to help them. last night to a person we thought it would go lower. we didn't do that to hurt people, we did it be
geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a...
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tracy: new your againsy on the fiscal cliff. speaker boehner is demanding a face-to-face meeting with president obama and the pentagon is preparing for the worst. >> it could take a week to clear out the backlog of ships. we're live at the port of los angeles straight ahead. tracy: time for stocks as we do every 15 minutes. nicole petallides on the floor of the new york stock exchange. it has been a wild ride. a lot of it has to do with apple, right? >> the big picture, markets are higher. apple has come under pressure. let's look at the major market averages. the dow is up triple digits, completely erasing losses over last couple days. posting a gain for the week. tech-heavy nasdaq pom cost it is moving to the because weighed down by apple. research and findings have found that apple faces intense competition in the tablet market for ipad and ipad mini and probably will lose market share to android and even microsoft systems. you're seeing apple down 28, almost 29 bucks. a terrible day if you're a shareholder hoping to get to t
tracy: new your againsy on the fiscal cliff. speaker boehner is demanding a face-to-face meeting with president obama and the pentagon is preparing for the worst. >> it could take a week to clear out the backlog of ships. we're live at the port of los angeles straight ahead. tracy: time for stocks as we do every 15 minutes. nicole petallides on the floor of the new york stock exchange. it has been a wild ride. a lot of it has to do with apple, right? >> the big picture, markets are...
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cheryl: and fiscal cliff fire sale. you will not believe what is going on in the hamptons' real estate market. we have a broker who says he can save you up to a million bucks on a home just like this one. deb dennis only 17.7mil. nicole petallides at the new york stock exchange. seeing green. >> reporter: nice little bargain there. hey, if you're saving a million oo more, that's a good bargain. we are seeing green across the board here, right now the dow jones industrials up one-quarter of 1%. let's take a look at the major averages, the dow jones industrials up 28 points, the tech-heavy nasdaq, we are seeing a lot of the tech stocks leading the way, but the composite is up 12 points almost half a percent in the s&p 500. also a winner. but let's take a lock at mcdonald's, one of the better performers on the dow. same-store sales were actually up, finally, once again because in october the same-store sales declined for the first time in nine years. so people began to worry. but, don't worry, because mcdonald's posted gai
cheryl: and fiscal cliff fire sale. you will not believe what is going on in the hamptons' real estate market. we have a broker who says he can save you up to a million bucks on a home just like this one. deb dennis only 17.7mil. nicole petallides at the new york stock exchange. seeing green. >> reporter: nice little bargain there. hey, if you're saving a million oo more, that's a good bargain. we are seeing green across the board here, right now the dow jones industrials up one-quarter...
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now, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i spoke with senator demint out and he feels that we have to do a better job with that. i believe that he thinks he can take the heritage network, and they do have operations around the country, at the state level, find out what works at the state and local level. there are models, social policy, education, welfare that have had some success out in the country that reflects conservative ideas. match that with the researchers in washington that to the policy work for heritage. connell: i think a lot of people will hear or read about this today and think about the conversation we have been having about the future of the republican party. does the tea party still have, you know, lindsey graham just put
now, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i spoke with senator demint out and he feels that we have to do a better job with that. i believe that he thinks he can...
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we have to get past this fiscal cliff and move on. connell: we probably would be talking a lot more about china and the transition of power and how president obama is supposed to do without. when you say there are economy is not doing that great, does that mean it is in jeopardy of a tough all, or it will hang in there? >> i think it will hang in there. china, i think, will grow. reasonably, i have seen some analysts come out and be pretty bullish. their economy, the outlook is willing not that bright. although, they probably will not fall hard. china is sort of setting their status quo. i think the u.s., again, back to the u.s., they have to get their act together. connell: a few days after the end of the year. that is just silly, if you think about it. if we all know the answers, why do we have to wait until the new year. thank you very much. good to see you. dagen: as the nation waits on washington, what is really going on behind the scenes? brett fair on the timeline for a deal in d.c. the mississippi river will always have its ow
we have to get past this fiscal cliff and move on. connell: we probably would be talking a lot more about china and the transition of power and how president obama is supposed to do without. when you say there are economy is not doing that great, does that mean it is in jeopardy of a tough all, or it will hang in there? >> i think it will hang in there. china, i think, will grow. reasonably, i have seen some analysts come out and be pretty bullish. their economy, the outlook is willing...
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all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with charles payne. this hour he is looking at online networking site linked in. getting a little bounce, but has been on a tear. charles: this is a incredible stock. you put six flights out of business. i'm telling you right now. today part of the reason it is up, kind of odd, some sort of stock speculation mayor bloomberg may be interested in doing something, taking it over. even without that, this is a stock i like a lot. at least the third time this year my subscribers are in a stock. the latter earning report my two cents coby district by 100%, the sto
all right, stocks closely watching the fiscal cliff talks. coming up, chief investment officer will tell us what will happen if there is a deal where if there is no deal. ashley: michael bloomberg crack a joke the only people buying egos. he could soon become one of those. as it everyday at this time, take a look at how oil is trading moving slightly lower even though the suggestion demand from china is off, oil down slightly by $0.10, 85.83 per barrel. tracy: it is time to make some money with...
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eastern about the fiscal cliff. all part of the white house my2k campaign with the president drumming up support for higher taxes on the rich. dennis: that will be a fair and balanced asourcement of questions. our parent company, parent corp., details on splitsville, editor and chief of the "wall street journal" is ceo of the print spinoff taking the news corp. name. the video film television properties is fox group and the daily, launched by news corp. last year as the first ipad only newspaper, one of them anyway, closing, rest in peace. ad spending is the canary in the coal mine taking a hit, three ad agency giants reducing forecasts for next year. 4.5%. more sluggish 4.1%, and worldwide, interpublic, most bearish, in half to 3.1% next year, and there's this, the 86-year-old icon of playboy getting hitched on new year's eve to crystal harris who is six decades younger, she's 26. now, that's just wrong unless you're hugh hefner. tracy: she didn't show last time. the second engagement, and jilted four days before h
eastern about the fiscal cliff. all part of the white house my2k campaign with the president drumming up support for higher taxes on the rich. dennis: that will be a fair and balanced asourcement of questions. our parent company, parent corp., details on splitsville, editor and chief of the "wall street journal" is ceo of the print spinoff taking the news corp. name. the video film television properties is fox group and the daily, launched by news corp. last year as the first ipad...
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melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if w went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. ifou drill down on the details, as soon as i saw 800 billion in new x revenue, my immediate question did they give on the point of marginal rat d from the language it doesn't look like. more a tax code basically closes loopholes. they employ all the euphemisms to say you will get rid of deductions. sounds like that is where the 800 billion in new revenue isoming from. they didn't give on marginal rates at all. >> that
melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if w went over the cliff, we would get the sequester, which is the budget wonk...
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last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6rillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the sa comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. th
last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6rillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not...
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twenty-nine days until we fall off the fiscal cliff. timothy geithner says the ball is in the republican report to compromise. >> i cannot promise that. that is a decision that lies in the hands of the republicans. if they recognize the reality that we cannot afford to extend those tax rates, we have a basis of an agreement. stuart: how was that for an introduction. before we launch into your talking points, and i know you well, i want to mention this. the founder of cosco, as you know, he appeared at the democrat convention. big supporter of president obama. loves the tax the rich idea. he borrowed $3.5 billion imprisoned out to shareholders in the form of a special dividend this year. he walked with a check for $14 million. he pays and get $12 million cash. if the dividend was next year, he would have walked away with $8 million. by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is
twenty-nine days until we fall off the fiscal cliff. timothy geithner says the ball is in the republican report to compromise. >> i cannot promise that. that is a decision that lies in the hands of the republicans. if they recognize the reality that we cannot afford to extend those tax rates, we have a basis of an agreement. stuart: how was that for an introduction. before we launch into your talking points, and i know you well, i want to mention this. the founder of cosco, as you know,...
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gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gopoutrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a look at federal income tax in this country. these numbers according to the tax foundation. the top 1% pay 37.4%. the top 1% of earners. they pay almost 40%. taking a look at this, the top 5% pay nearly 60%. it doesn't seem quite right. the top 10% -- they pay 71%. federal income taxes, top 10%. picking up almost the entire time. if you wanted to ask her to be more progressive, i don't know, maybe the top 10% pay 90% of taxes. 95%? 100%? i think this whole argument is hogwash. the tax code is not there, but not because the wealthy are not paying enough. but because they pay too much money. everybody needs in the game. if you are part of the system, every time the government as a new federal oversight panel or commissions a study of the effect of exercise
gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gopoutrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a look at federal income tax in this country. these numbers according to the tax foundation. the top 1% pay 37.4%. the top 1% of earners. they pay almost 40%. taking a look...
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a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what th called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where wld the chinese and their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down the numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. to start using the gas. but will it damage your twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the art of your portfolio. find
a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what th called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where wld the chinese and their economy be if it...
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the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically week and counting before you think the equity market really drops significantly? >> if we do get a deal done do, we just maintain the 2% that we're stuck in with the high unemployment and not go down? or does it actually allow us to start growing again? is anybody talking growth? >> we're talking growth. >> is it possible to ever get back to that in this environment? >> it is. you have a lot of problems with the piece. >> do you briyou believe if you rote deficit -- two different ways. you either keep the government that you
the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically...
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fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
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the risk of the fiscal cliff. i point out one thing though, on this weakness, if you believe japan in 2013 is going to be the sleeper equities market that some do, then you want to own tiffany. >> delta, simon? >> singapore airlines in their talk to sell virgin atlantic to delta. richard branson, don't do it. we'll be buying peanuts again in six months. >> southwestern energy getting a pop. >> stephanie brought this to my attention earlier. there is some chatter out there this could be a potential acquisition candidate. obviously, never a great thing to chase or a reason to buy a stock but maybe a good reason to do some research. it's about a $12 billion company can. little bit of chatter, little bit of a pop today. something worth keeping on your radar if you like energy stocks. >> and how about unicorns? they're getting a pop today. hold on. north korea says it's found a union core. the state run news agency says that kim jong-il shot is 11 holes in one in a single game of golf says the dwelling was once inhabit
the risk of the fiscal cliff. i point out one thing though, on this weakness, if you believe japan in 2013 is going to be the sleeper equities market that some do, then you want to own tiffany. >> delta, simon? >> singapore airlines in their talk to sell virgin atlantic to delta. richard branson, don't do it. we'll be buying peanuts again in six months. >> southwestern energy getting a pop. >> stephanie brought this to my attention earlier. there is some chatter out...
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they want to urge with them on the solutions for the fiscal cliff. they will meet with white house speaker john boehner. in the meantime the white house is rejecting the latest proposal. house republicans send it to the white house yesterday their republicans plan does not increase tax rates which the white house insists must be included in any deal. >>> they are trying to make california public schools green. they will update the efficiency of public schools in california. it's being introduced by an assembly woman. the recent funding would come from proposition 39 and it comes from a fund. >>> police say 44-year-old john roady robbed the class sunday night. he took computers and other electronics. police recovered some of those during his arrest. he was on probation for burglary and now he faces new charges. >>> we have a car versus a dear at the paradise east bound. it is backed up and running, here is a look at the east shore freeway and mcarthur maze no dislace, traffic is flowing -- no delays, traffic is flowing well in both directions. >>> lig
they want to urge with them on the solutions for the fiscal cliff. they will meet with white house speaker john boehner. in the meantime the white house is rejecting the latest proposal. house republicans send it to the white house yesterday their republicans plan does not increase tax rates which the white house insists must be included in any deal. >>> they are trying to make california public schools green. they will update the efficiency of public schools in california. it's being...
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the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is goi
the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown...
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let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want to look at it from a policy standpoint, it may not be the worst possible option to just go over the cliff and then put back in the tax cuts and the spending increases or renewals that you'd like to put ba
let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be...
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. >>> president obama took the debate over the fiscal cliff to a school teacher's dining -- visited them at their home. the president said the potential is causing people to stress as the end of the year approaches. said that the lines of communication are open. >>> the labor department says applications fell 25,000 to a seasonally adjusted -- claim spike following sandy. analysts say the effects of the storm are still being seen. >>> ahead of tomorrow's -- hundreds of same sex couples got licenses 400 marriage licenses in seattle alone. washington has a three day waiting period. earliest will be sunday. >>> it's considering closing store is having a ripple effect. the concerns are running especially high in one neighborhood where there are few other options. >> it took years to get a high quality grocery store to come here. now less than 18 months after it opened, fresh and easy may be closing. >> we fought hard to have it hard. >> the company who evens it announced that because of poor financial service it's looking to sell the chain. all 200 stores in california, nevada, and arizona c
. >>> president obama took the debate over the fiscal cliff to a school teacher's dining -- visited them at their home. the president said the potential is causing people to stress as the end of the year approaches. said that the lines of communication are open. >>> the labor department says applications fell 25,000 to a seasonally adjusted -- claim spike following sandy. analysts say the effects of the storm are still being seen. >>> ahead of tomorrow's -- hundreds...
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it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest deduction. and, bob, you think -- for a lot of people that won't matter? >> you have the amt. so if you take excessive deductions, they just disappear. which is one of the things about all of this about limiting these deductions which is kind of silly because the amt does it in the aggregate. and of course the amt is grabbing more and more people and it's one of the things they want to reform, but if they reform it, they have to raise taxes someplace else. so it's confusing. >> but that's the worst part of it, a simpler tax code that someone could actually understand and now ho
it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest...
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Dec 6, 2012
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fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be running for the hills or at least buying portfolio protection to protect themselves against potential disaster. we see the vix very low. they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahea
fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be...